Open Thread

Rebuttal Forecast

Artist - Randall Enos

I implore all of you to read this piece from Vanity Fair on Mitt Romney's finances and Bain Capital's slimeball financial trickery. It's astonishing.

I'll just share one excerpt here

[The] Romneys were reported to have invested at least $1 million in Elliott Associates, L.P., a hedge fund specializing in “distressed assets.” Elliott buys up cheap debt, often at cents on the dollar, from lenders to deeply troubled nations such as Congo-Brazzaville, then attacks the debtor states with lawsuits to squeeze maximum repayment. Elliott is run by the secretive hedge-fund billionaire and G.O.P. super-donor Paul Singer, whom Fortune recently dubbed Mitt Romney’s “Hedge Fund Kingmaker.” (Singer has given $1 million to Romney’s super-pac Restore Our Future.)

  • Lazarus Durden

    This tactic has employed for a long time. Under Taft it was dubbed “Dollar Diplomacy”. I’m actually doing my graduate thesis on it. Amazing just how many parallels there are to that era and this one including the worship of the Gold Standard which the Paulites have brought back.

  • nathkatun7

    I read the Vanity Fair article and I was completely amazed at Romney’s ties with shady business and financial entities and characters. It’s no wonder Romney is resisting releasing his tax returns. I hope more and more pressure will be put on him to answer questions about his business and financial deals and to release his tax returns, not just for last year, but for the years, from 1999, that he claims he had retired from Bain Capital.

  • bphoon

    I saw that earlier today. Well worth reading. I’m sure if President Obama were found to be sheltering much of his income in off-shore tax havens with secrecy laws such as the Cayman Islands, the GOP would be screeching for his head. But if it’s Mit Romney, well, that’s OK–it’s what rich (read: rich, white Republicans) do.

    Meanwhile, since these self same people not three months ago were blaming high gas prices on the president, when do they start to credit him for the lowest gas prices since late 2008?

    • Brutlyhonest

      Indeed. I was just ranting to my wife earlier about how the right (with a complicit “liberal” media) has painted every recent Democratic candidate as an out-of-touch elitist while ignoring the fact that their guy is an actual elitist. Hell, at least with w they tried to cover up his privileged, wealthy, New England frat boy past by marketing him as a regular good ‘ol boy from Texas.

      Rmoney is the poster boy for their policies, and he’s proud of it.

      A week or so ago there was an article in the local paper (I think it was an AP pickup) about undecided voters and their issues. One woman was quoted as saying she wished either of the candidates knew what it was like to struggle. Yes lady, growing up half black in the 1960s was easy street.